Most of these are co-operative, their shareholders being the farmers themselves.
Also, in some states, the shareholders may also adopt the initial bylaws.
Of the net profits, a dividend of 31/2% is first payable to the shareholders, 20% of the remainder is transferred to the reserve until this has reached a total of 3,000,000, and of the remainder again a quarter is apportioned to the shareholders and three-quarters falls to the imperial exchequer.
In 1905 there were 134 tea-planting companies registered in India, about 80% of the capital being held by shareholders in London.
The bank has made steady progress in spite of innumerable difficulties, and paid a fair dividend to its shareholders.